"An APY subscriber will have to get the Aadhaar number recorded in his or her APY pension account and also in his/her savings account where the periodic pension contribution instalments are debited and government co-contribution is to be credited," the Ministry of Finance said.
"In case a subscriber is not yet having an Aadhaar card, he/she should immediately get him/her enrolled for the Aadhaar card."
The ministry pointed out that PFRDA (Pension Fund Regulatory and Development Authority) has identified nearly 12.35 lakh subscribers eligible for the central government's co-contribution for an amount up to Rs 1,000 for the financial year 2016-17 which will be released to the eligible subscribers' savings bank accounts seeded with Aadhaar.
"These subscribers are advised to approach their Bank or Postal Branch for seeding their Aadhar Number," the ministry said.
Currently, the scheme has more than 54 lakh subscribers with an asset base of more than Rs 2,200 crore.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.